What does MNQ mean?
MNQ is the Micro E-mini Nasdaq-100 futures contract. It tracks the same Nasdaq-100 index family as NQ but uses one-tenth of NQ's contract multiplier, making each point and tick worth one-tenth as much.
Why it matters
- MNQ allows finer position sizing than NQ.
- The smaller contract value can make risk easier to scale in smaller accounts.
- Many futures prop firms allow multiple MNQ contracts where one NQ contract would create a similar nominal exposure.
How it works
- 01
The MNQ contract multiplier is $2 times the Nasdaq-100 index level.
- 02
The minimum price increment is 0.25 index points.
- 03
One MNQ tick is therefore worth $0.50 per contract and one full index point is worth $2.
Example
A 10-point move in MNQ represents $20 per contract before commissions and fees because each full index point is worth $2.
Common misunderstandings
- MNQ is not a different Nasdaq-100 market from NQ; it is a smaller contract size.
- Smaller tick value does not eliminate risk.
- Using many micros can create the same or greater exposure as a larger contract.
Educational reference
This glossary explains terminology and
general market concepts. It is not a
trading signal or a guarantee of future
results.